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Rakuten Securities has just announced another acquisition in the foreign exchange space. The company acquired the FX brokerage business of FXAsia. The brokerage has been regulated by the Australian Securities and Investments Commission (ASIC) and was acquired for an undisclosed sum.
The move follows an expansion of Rakuten Securities in the APAC region after the company bought the Japanese and Hong Kong businesses of FXCM last year. The commitment of the Japanese brokerage to another acquisition shows that the company is serious about going international with its competitive offering.
FXAsia has been primarily focused on high-net ... (read more)